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OVER the past year, auctions have taken off but some areas have been quicker to adopt the sale method than others.
This Saturday, the Ray White Group has a total of 415 auctions scheduled across the country, with the bulk taking place in Sydney where there are 135 booked in. In Melbourne, the leading agency has 122 auctions scheduled, while Ray White Brisbane has scheduled 40 and Ray White Adelaide another 26 auctions.There are a further 87 auctions scheduled in non-capital city areas of Australia including the Gold Coast and five booked in for Ray White in Perth.
Sydney has long been considered the auction capital of Australia and Ray White data confirmed that Sydney offices scheduled more auctions than any other city in the country with 5,637 this year.Ray White New South Wales chief auctioneer Alex Pattaro (pictured below) said he can't see the momentum in Sydney slowing down any time soon.
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"Auction volume in November continues to increase and we are now seeing 880 scheduled auctions in Sydney which is up 44 per cent on the previous year," Mr Pattaro said.
"An outstanding 54 per cent of properties that have come to market over the past month in Sydney have been listed for auction. These are the highest numbers on record."
Adelaide overtook everyone for most average registered bidders, recording 9.3 since the start of the year while Ray White in Brisbane was a close second at 7.8. But the sunshine state capital came first on the leaderboard for the most average active bidders at 4.2.Adelaide again topped the list, recording a year-to-date clearance rate of 81.8 per cent but Sydney was hot on its heels with an 81.5 per cent clearance rate.Ray White South Australia chief auctioneer John Morris (pictured below) said he has noticed a lot of interstate buyers flocking to Adelaide.“There’s been a lot of interstate interest in Adelaide and there does seem to be a lot of people moving back here,” Mr Morris said.“The locals are also increasing their budgets by a bit. I’m seeing a lot of younger bidders who have increased their budgets by quite a lot with the help of the bank of mum and dad and lower interest rates.“I can’t see the momentum Adelaide is experiencing slowing down any time soon.”Mr Morris recently conducted an online auction for 53 Central Ave, Magill which was marketed by Ray White North Adelaide principal Rachel Lawrie. What made the auction standout was the 48 bidders who registered and drove the sale price all the way to $1.29 million. The South Australian chief auctioneer described it as “one of the craziest auctions I’ve ever done”, with bidding lasting for more than an hour.
Meanwhile, it was mostly Melbourne suburbs that ranked in the top five auction suburbs by volume according to Ray White data, including Reservoir where Ray White offices booked 241 auctions since the beginning of the year, Surfers Paradise, Queensland with 203, Craigieburn, Victoria with 177, Rowville, Victoria at 161 and Bundoora, Victoria with 135.Ray White Preston agent Ian Dempsey said there were a few reasons for the high volume of auctions in Reservoir.
"It's one of the largest suburbs in Melbourne so automatically the volume is going to be higher," Mr Dempsey said.
"It's also seen some really good growth, there's great infrastructure, a new train station, vibrant cafes and good amenities for families.
"It also has good land components that work for a multitude of buyers. At the moment, we've been seeing a lot of young professionals and families coming in."
For suburbs where there were more than 30 Ray White auctions conducted, Mt Gravatt East in Brisbane came out on top with 14.6 average registered bidders across 41 auctions this year. Ray White Mt Gravatt principal Grant Boman said the area has been popular with families.
“Mt Gravatt East is a family orientated area of Brisbane with good accessibility to major roads and infrastructure along with decent sized blocks and family homes," Mr Boman said.
“While we have seen more interest from interstate than ever before, the majority of our buyers are local families.”
This Saturday's auction highlights Sydney
12 Alma Ave, Enmore (pictured at top)
On-site at 10:00am
Ray White Surry Hills | Glebe | Alexandria | Erskineville
Lead agent: Ercan Ersan
Auctioneer: James Keenan, Ray White
On-site at 10:00am
Ray White Drummoyne
Lead agent: Chris Wilkins
Melbourne
On-site at 10:00am
Ray White Seddon
Lead agent: Pat Jamroz
On-site at 12:30pm
Ray White Blackburn
Lead agent/auctioneer: Peter Schenck
On-site at 1:00pm
Ray White Cheltenham
Lead agent/auctioneer: Kevin Chokshi
Brisbane
In-room at 9:00am
Ray White Surfers Paradise
Lead agent: Paul Collins
Auctioneer: Andrew Bell, Ray White
On-site at 10:00am
Ray White Wilston
Lead agent: Holly Bowden
Auctioneer: Phil Parker, Ray White
Adelaide
On-site 11:30am
Ray White Norwood
Lead agent: Brandon Pilgrim
Auctioneer: George Kargiotis, Ray White
On-site at 12:00pm
Ray White Norwood
Lead agent: Ryan Stapleton
